U.S. markets closed
  • S&P 500

    4,411.79
    +44.31 (+1.01%)
     
  • Dow 30

    35,061.55
    +238.20 (+0.68%)
     
  • Nasdaq

    14,836.99
    +152.39 (+1.04%)
     
  • Russell 2000

    2,209.65
    +10.17 (+0.46%)
     
  • Crude Oil

    72.17
    +0.26 (+0.36%)
     
  • Gold

    1,802.10
    -3.30 (-0.18%)
     
  • Silver

    25.24
    -0.14 (-0.56%)
     
  • EUR/USD

    1.1770
    -0.0003 (-0.02%)
     
  • 10-Yr Bond

    1.2860
    +0.0210 (+1.66%)
     
  • GBP/USD

    1.3754
    -0.0013 (-0.10%)
     
  • USD/JPY

    110.5100
    +0.3950 (+0.36%)
     
  • BTC-USD

    34,449.24
    +748.35 (+2.22%)
     
  • CMC Crypto 200

    786.33
    -7.40 (-0.93%)
     
  • FTSE 100

    7,027.58
    +59.28 (+0.85%)
     
  • Nikkei 225

    27,548.00
    +159.80 (+0.58%)
     

Thermo Fisher (TMO) Invites Applications for Oncomine Program

  • Oops!
    Something went wrong.
    Please try again later.
·4 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Thermo Fisher Scientific Inc. TMO recently began accepting submissions for the Oncomine Clinical Research Grant program starting Jul 16, 2021. The applications will be reviewed and evaluated by independent and internationally recognized experts. The program is expected to award financial support worth $200,000 in reagents and general funding for select independent clinical research projects in oncology.

The grant is expected to bolster the company’s progress in the immunotherapy line. It will specifically support research projects focused on validating predictive biomarkers to detect patients eligible for immunotherapy-based drugs that improve outcomes for cancer patients.

Few Words on Oncomine Grant Program

The Oncomine Clinical Research Grant, launched in 2020, has been awarded to eight projects focused on research in fusion genes detection in solid cancer, hemato-oncology and other areas. A total of four proposals, including Stephen Fox, Peter MacCallum Cancer Centre, Australia; Giulia Siravegna, Harvard Medical School/Massachusetts General Hospital Cancer Center, Boston; Beatriz Bellosillo, Hospital del Mar, Spain; and Leomar Y. Ballester, The University of Texas Health Science Center at Houston, TX were awarded funding under the Oncomine program to support research in liquid biopsy.

Zacks Investment Research
Zacks Investment Research

The latest grant to advance immunotherapy will aid researchers to use ascitic fluid as a source for predictive and prognostic biomarkers through efficient characterization of circulating free tumor DNA (ctDNA) isolated from ascites fluid in gastric cancer patients, and then compare it with matched peripheral blood ctDN.

Industry Prospect

Per a report published in MarketsandMarkets, the global immunotherapy drugs market is expected to see a CAGR of 11% during 2020-2025. Factors attributable to market growth include rising prevalence of target diseases including cancer, autoimmune and inflammatory diseases, infectious diseases and other therapeutic areas; increasing demand for monoclonal antibodies and biosimilars; increasing adoption of immunotherapy drugs and ease of authorization process for immune-based drugs.

Given the substantial market prospects, Thermo Fisher’s latest grant program to advance immunotherapy for cancer patients seems strategic and well-timed.

Notable Developments

Thermo Fisher engaged in a number of significant developments in June 2021.

Thermo Fisher launched an enhanced Quick to Clinic solution which leverages Gibco Freedom ExpiCHO, a robust process platform for biopharmaceutical companies developing mammalian recombinant proteins. Quick to Clinic will aid such emerging biopharma companies to reach Phase I/First-In-Human trials and file for Investigational New Drug review in just 13 months from transfection, thereby accelerating drug development for patients.

The company launched the Ion AmpliSeq SARS-CoV-2 Insight Research Assay in support of its recent partnership with the Centers for Disease Control and Prevention to enable early detection of new and known SARS-CoV-2 variants. The new assay is known to sequence more than 99% of the SARS-CoV-2 genome, thereby covering all potential serotypes.

Thermo Fisher partnered with Newomics to develop a novel native liquid chromatography-mass spectrometry (LC−MS) platform that supports various LC−MS applications. The collaboration is expected to combine the company’s new-generation LC-MS systems and Newomics Microflow-nanospray Electrospray Ionization (MnESI) source in a MnESI-MS platform which provides a highly sensitive and reproducible analysis of nanospray applications, improves throughput for native MS analysis of large bioorganic complexes and maintains the native state of protein complexes during the MS analysis.

Share Price Performance

The stock has outperformed its industry over the past year. It has rallied 37.3% compared with the industry’s growth of 19.5%.

Zacks Rank and Key Picks

Currently, Thermo Fisher carries a Zacks Rank #3 (Hold).

A few better-ranked stocks from the broader medical space include PetIQ, Inc. PETQ, Computer Programs and Systems, Inc. CPSI and Intuitive Surgical, Inc. ISRG, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

PetIQ has a long-term earnings growth rate of 25%.

Computer Programs and Systems has a long-term earnings growth rate of 14%.

Intuitive Surgical has a long-term earnings growth rate of 9.40%.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Intuitive Surgical, Inc. (ISRG) : Free Stock Analysis Report

Thermo Fisher Scientific Inc. (TMO) : Free Stock Analysis Report

Computer Programs and Systems, Inc. (CPSI) : Free Stock Analysis Report

PetIQ, Inc. (PETQ) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research